Turnover of furniture manufacturer Vilniaus Baldai, AB during the period of 2013 January – September was LTL 121 696 thousand, this is 32 percent less than in the same period in 2012, when the turnover was LTL 179 141 thousand.
Net profit of Vilniaus baldai AB during nine months of 2013 was 11 411 thousand LTL, same period year 2012 – 19 549 thousand LTL. EBITDA was 16 270 thousand LTL, a year ago – in 2012 – it was 26 896 thousand LTL
“Upon completion of mastering the new products and implementation of all investments in the general production, sales and profitability of the Company in the third quarter of 2013 increased” – Aidas Mackevicius, the General Director of Vilniaus Baldai, AB, said. Our sales in the third quarter of 2013 grew to 60 percent compared to the second quarter of 2013 (from 33.186 million LTL to 53.375 million), while the net profit increased over 200 percent at the same period – respectively, from 2.062 million LTL to 6.164 million LTL.
Currently, production is implemented only in the main factory, whereas planned technical and technological adaptations are placed in the second factory. It is assumed that production in this factory will be renewed already this year and the factory will operate at full capacity in the second quarter of 2014. The growth in output, which leads to increase of sales and timely implementation of orders moreover, about 100 new workplaces are expected.
Vilniaus Baldai, AB exports almost all its production to the Swedish concern IKEA.
Vilniaus Baldai, AB is listed on the Official List of NASDAQ OMX Vilnius Stock Exchange.
Vilniaus Baldai AB interim condensed consolidated financial statement for the nine months of 2013 is enclosed:
1. Confirmation of responsible persons;
2. Condensed interim consolidate financial statement for the nine months of 2013;
Additional information:
Chief Financial Officer
Ausra Kibirkstiene
Phone No: +370 5 2525720